AcelRx Pharmaceuticals, Inc. (ACRX) Downgraded by ValuEngine to Strong Sell

ValuEngine downgraded shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) from a sell rating to a strong sell rating in a report released on Friday morning.

A number of other research firms also recently weighed in on ACRX. Piper Jaffray Companies set a $3.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a hold rating in a research report on Tuesday, July 25th. Roth Capital set a $13.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, August 2nd. Cowen and Company reissued a hold rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 1st. Royal Bank Of Canada set a $6.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a buy rating in a research report on Friday, August 25th. Finally, Stifel Nicolaus raised shares of AcelRx Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $7.50.

Shares of AcelRx Pharmaceuticals (NASDAQ ACRX) traded up 3.33% during mid-day trading on Friday, hitting $3.10. 1,116,705 shares of the stock traded hands. AcelRx Pharmaceuticals has a one year low of $1.95 and a one year high of $4.08. The stock has a 50-day moving average of $3.12 and a 200 day moving average of $2.81. The stock’s market cap is $140.68 million.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). AcelRx Pharmaceuticals had a negative return on equity of 478.66% and a negative net margin of 319.19%. The company had revenue of $2.66 million for the quarter, compared to analyst estimates of $2.63 million. Equities analysts predict that AcelRx Pharmaceuticals will post ($1.13) EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://ledgergazette.com/2017/09/16/acelrx-pharmaceuticals-inc-acrx-downgraded-by-valuengine-to-strong-sell.html.

In other AcelRx Pharmaceuticals news, CEO Vincent J. Angotti acquired 15,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was purchased at an average price of $3.00 per share, with a total value of $45,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 15,000 shares in the company, valued at approximately $45,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of AcelRx Pharmaceuticals stock in a transaction on Monday, June 19th. The stock was sold at an average price of $2.40, for a total transaction of $2,100,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 37,000 shares of company stock valued at $112,280. 28.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ACRX. Acadian Asset Management LLC boosted its holdings in AcelRx Pharmaceuticals by 326.1% in the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 32,087 shares during the period. Teachers Advisors LLC boosted its holdings in AcelRx Pharmaceuticals by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock worth $173,000 after purchasing an additional 8,475 shares during the period. Virtu KCG Holdings LLC boosted its holdings in AcelRx Pharmaceuticals by 600.9% in the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after purchasing an additional 101,742 shares during the period. LMR Partners LLP acquired a new position in AcelRx Pharmaceuticals in the second quarter worth $319,000. Finally, Bank of New York Mellon Corp boosted its holdings in AcelRx Pharmaceuticals by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock worth $355,000 after purchasing an additional 6,942 shares during the period. 23.32% of the stock is owned by hedge funds and other institutional investors.

AcelRx Pharmaceuticals Company Profile

AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.

Analyst Recommendations for AcelRx Pharmaceuticals (NASDAQ:ACRX)

Receive News & Ratings for AcelRx Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply